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<p>&nbsp;</p>

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<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We are proud of what we have accomplished; we have just begun.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Somehow over the years folks have got the impression that Wal-Mart is 
something I dreamed up out of the blue as a middle aged man and that it was just 
this great idea that turned into an over-night success. Like most other over- 
night successes it was about twenty years in the making.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; I had no vision of the scope of what I would start but I had confidence that 
as long as we did our work well and were good to our customers, there would be 
no limit to us.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The big lesson that we learned was that there was much, much more than we ever 
dreamed of.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; I was notorious for looking at what others were doing, taking the best of it 
and then making it better.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; High expectations are the key to everything. What motivates me is the desire 
to be absolutely on top of the heap. It is not money.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; I get up everyday, bound and determined to improve something. I am never 
afraid of being wrong. However, once I see I am wrong, I just shake it off and 
head in another direction.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We are not interested in charity here in business, we do not believe in 
subsidizing substandard work or inefficiency.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We had to keep expenses to the minimum. That is where it started. Our money 
was made controlling expenses.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We don't need to buy a yacht. Thank goodness we never thought that we had to 
go out and buy anything like an island. We just don't have those kinds of needs 
or ambitions, which wreck a lot of companies when they get along in years.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We are not ashamed of having money but I just don't believe a big showy 
lifestyle is appropriate for anywhere. Folks work hard everywhere for their 
money and we know everyone puts on their trousers one leg at a time.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt;&nbsp;&nbsp; Exercising ego in public is definitely not the way to build an organization; 
one-person seeking glory never accomplishes much.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Set a goal and try achieving it, if it doesn't work, anyway you had fun 
trying.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; I learnt at a very early age that it was important for us kids to help provide 
for the home, to be contributors rather than just takers.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; You love it when you visit a store and somehow it exceeds your expectations, 
and you hate it when a store inconveniences you or gives you a hard time or just 
pretends you are invisible.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; If you want people in the stores to take care of the customers, you have to 
make sure that you are taking care of people in the stores.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt;&nbsp;&nbsp; If you take someone who lacks the experience and the know-how but has the 
real desire and the willingness to work his tail off to get the job done, he 
will make up for what he lacks.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Every time our executives head across the country on visits, we have drummed 
this idea into their head that they should come back with something that pays 
back for their trip.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The folks on the front lines - the ones who actually talk to the customers 
-are the only ones who really know what's going on out there.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt;&nbsp;&nbsp; If you are good to people and fair with them and demanding of them, they 
will eventually decide you are on their side.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt;&nbsp;&nbsp; Folks who stand all day on their feet get exhausted and frustrated too, and 
they need someone to share it with who is in a position to find a solution.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; There is absolutely no limit to what plain, ordinary working people can 
accomplish if they're given the opportunity, encouragement and incentive to do 
their best.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Outstanding leaders go out of their way to boost the self-esteem of their 
personnel.&nbsp; If people believe in themselves, it's amazing what they can 
accomplish.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; We exist to provide value to our customers, which means in addition to quality 
and service, we have to save them money.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Every time we save the customers a dollar, we stay one step ahead of the 
competition, which is where we always plan to be.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt;&nbsp;&nbsp; If we buy anything for more than the best price, my customers shall be 
buying somebody's inefficiency and that's not acceptable.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; I have always told my buyers, you are not negotiating for Wal-Mart; you are 
negotiating for the customers of Wal-Mart.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; There is only one boss - the customer. He can fire everybody in the company 
from the chairman on down, simply by: spending his money somewhere else.</span></p>

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